Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Pfizer Drugs to Be Paired With Siemens Tests as Targeted Therapy

Dec. 16 (Bloomberg) -- Siemens AG will develop diagnostic tests for U.S. drugmaker Pfizer Inc. in an effort to sell medicines to the patients most likely to benefit from them.

The Siemens Clinical Laboratory, which is based in Berkeley, California, will lead product development to ensure efficacy, Europe’s largest engineering company said in an e-mailed statement.

“Companion diagnostics are an important enabler of targeted therapies,” John Hubbard, Pfizer’s global head of development, said in the statement.

Companion diagnostics is used to evaluate a drug’s effectiveness on particular patients. Health care companies are increasingly targeting the segment for future growth as declining health care budgets prioritize the need to ensure the efficacy pharmaceuticals before they are prescribed.

The diagnostics division generated an earnings before interest, taxes, depreciation and amortization margin of 20 percent, making it one of Munich-based Siemens’s most profitable businesses in the last fiscal year.

Siemens announced similar development deals in 2012 with HIV drugmaker ViiV Healthcare Ltd. and Tocagen Inc., a developer of an experimental brain tumor treatment, to create tests that will determine which patients will benefit from the therapies.

To contact the reporter on this story: Alex Webb in Munich at awebb25@bloomberg.net

To contact the editor responsible for this story: Simon Thiel at sthiel1@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.